The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Netapp Inc shares valued at $858,000 were sold by BERRY MICHAEL J on Sep 10 ’24. At $114.40 per share, BERRY MICHAEL J sold 7,500 shares. The insider’s holdings dropped to 180,768 shares worth approximately $21.05 million following the completion of this transaction.
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Also, BERRY MICHAEL J sold 7,500 shares, netting a total of over 856,752 in proceeds. Following the sale of shares at $114.23 each, the insider now holds 173,268 shares.
Before that, O’Callahan Elizabeth M had sold 704 shares from its account. In a trade valued at $80,742, the EVP, Chief Legal Officer traded Netapp Inc shares for $114.69 each. Upon closing the transaction, the insider’s holdings decreased to 704 shares, worth approximately $1.44 million.
As published in a research note from Loop Capital on September 03, 2024, Netapp Inc [NTAP] has been rated up from a Hold to a Buy and the price target has been revised to $150 from $121. Analysts at JP Morgan upgraded the stock from ‘”an Underweight”‘ to ‘”a Neutral”‘ outlook in a report released in late May. As of May 31, 2024, TD Cowen has reiterated its “Buy” rating for NTAP. Earlier on March 04, 2024, Argus upgraded its rating. Their new recommendation was “a Buy” for NTAP stock which previously was a “a Hold”.
Analyzing NTAP Stock Performance
During the last five days, there has been a drop of approximately -0.31%. Over the course of the year, Netapp Inc shares have jumped approximately 32.10%. Shares of the company reached a 52-week high of $135.01 on 07/10/24 and a 52-week low of $83.62 on 01/08/24. A 50-day SMA is recorded $125.37, while a 200-day SMA reached $106.91. Nevertheless, trading volume fell to 1.59 million shares from 1.72 million shares the previous day.
Support And Resistance Levels for Netapp Inc (NTAP)
According to the 24-hour chart, there is a support level at 115.20, which, if violated, would cause prices to drop to 113.94. In the upper region, resistance lies at 117.50. The next price resistance is at 118.54. RSI (Relative Strength Index) is 37.71 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -5.83, which suggests the price will decrease in the coming days. Percent R is at 82.81%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
